Latest news with #ZengYuqun
Forbes
20-05-2025
- Business
- Forbes
Chinese Battery Giant CATL Soars Almost 17% In Hong Kong Debut
Zeng Yuqun, Chairman of Chinese battery giant CATL, right, bangs a gong to start CATL's debut trading on the Hong Kong stock exchange on May 20. Shares in Chinese battery giant CATL soared almost 17 percent on its first day of trading Tuesday. PETER PARKS/AFP via Getty Images Shares in Chinese battery giant Contemporary Amperex Technology soared almost 17% on their first trading day in Hong Kong as investors brushed off geopolitical concerns to pile onto the largest listing so far in 2025. The company, widely known as CATL and headed by billionaire Robin Zeng, saw shares jump to a high of HK$306.60 ($39) Tuesday morning, a significant rise from its offering price of HK$263 per share, which was the maximum price announced by the company for the secondary listing in the Asian financial hub. CATL is already listed in Shenzhen. CATL raised HK$35.7 billion on Monday by selling 135.6 million shares at that price—an amount more than originally planned due to strong demand, according to a Monday stock exchange filing. The deal, the world's biggest listing so far this year, will help CATL fund construction of a battery factory in Hungary. 'Investors in Hong Kong don't care a lot about the U.S. government blacklist,' Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities International, says by WeChat. 'Their only consideration is whether the stock will rise or not.' Ng was referring to the U.S. Department of Defense's recent decision to name CATL a 'Chinese Military Company' for allegedly aiding the country's military advances. The labelling carries reputational risks and might discourage American businesses from working with CATL. The company, which supplies global auto brands including Tesla, has denied any involvement with military-related businesses. About half of the shares were snapped up by cornerstone investors like sovereign wealth fund Kuwait Investment Authority, Shanghai Gaoyi Asset Management and UBS Asset Management, another sign of strong investor demand, according to a Tuesday note by Vincent Sun, a Hong Kong-based senior equity analyst at Morningstar. The offering price was attractive, according to a May 12 research note from Arun George, an equity analyst who publishes via the Smartkarma research platform. The Hong Kong listing was priced at 16.6 times CATL's estimated earnings for 2025, which is a discount of 45% compared to other battery makers including LG Energy Solution and Samsung SDI, he wrote in the note. But Ng cautions that investors might want to take profit soon, as CATL already commands a huge market capitalization of over 1 trillion yuan ($138.7 billion) in Shenzhen, 'It is not easy for such a big company to keep rising consecutively,' he says. 'Short-term investors can take their profit first.'
The Star
19-05-2025
- Automotive
- The Star
Half of China's heavy truck sales may be EVs by 2028
REUTERS/Dado Ruvic/Illustration/File Photo BEIJING: Half of China's sales of heavy trucks could be electric vehicles (EVs) by 2028, up from 10% in 2024, the chairman of battery maker CATL says, according to a media report. The comments by Zeng Yuqun, made at a heavy-truck battery-swapping launch and reported by the Shanghai government-affiliated news site Jiemian, suggest further headwinds for fuel demand in the trucking sector, already hit by the rise of liquefied natural gas trucks in China. CATL announced on Saturday it had put a 60GWh energy storage and EV battery manufacturing base into production in Shandong, its first such facility in northern China. A second and third phase of the project will be added in the next two years, forming an energy industry battery cluster worth billions of yuan in the region, CATL posted on the WeChat social media app. Shandong is aiming to build a 100 billion yuan (US$14bil) lithium battery industry by this year, encompassing electrode materials, electrolytes, battery cells and assembly, a local government notice last year showed. — Reuters Trading ideas: Samaiden, Gamuda, Hextar Capital, Pekat, Magma, ACME, MRCB, Avillion, EG, Paradigm REIT, Maxis, CSC, PIE
Time of India
19-05-2025
- Automotive
- Time of India
‘Half of China's trucks may be EVs by 2028'
Half of China's sales of heavy trucks could be electric vehicles by 2028, up from 10per cent in 2024, the chairman of battery maker CATL said on Sunday, according to a media report. The comments by Zeng Yuqun, made at a heavy-truck battery-swapping launch and reported by the Shanghai government-affiliated news site Jiemian, suggest further headwinds for fuel demand in the trucking sector, already hit by the rise of LNG trucks in China . CATL announced that it had put a 60 gigawatt-hour energy storage and EV battery manufacturing base into production in Shandong, its first such facility in northern China. A second and third phase of the project will be added in the next two years, forming an energy industry battery cluster worth billions of yuan in the region, CATL posted on the WeChat social media app. Shandong is aiming to build a 100 billion yuan ($14 billion) lithium battery industry by this year, encompassing electrode materials, electrolytes, battery cells and assembly.
Yahoo
18-05-2025
- Automotive
- Yahoo
Half of China's heavy truck sales could be EVs by 2028, CATL says
By Colleen Howe BEIJING (Reuters) -Half of China's sales of heavy trucks could be electric vehicles by 2028, up from 10% in 2024, the chairman of battery maker CATL said on Sunday, according to a media report. The comments by Zeng Yuqun, made at a heavy-truck battery-swapping launch and reported by the Shanghai government-affiliated news site Jiemian, suggest further headwinds for fuel demand in the trucking sector, already hit by the rise of LNG trucks in China. CATL announced on Saturday it had put a 60 gigawatt-hour energy storage and EV battery manufacturing base into production in Shandong, its first such facility in northern China. A second and third phase of the project will be added in the next two years, forming an energy industry battery cluster worth billions of yuan in the region, CATL posted on the WeChat social media app. Shandong is aiming to build a 100 billion yuan ($14 billion) lithium battery industry by this year, encompassing electrode materials, electrolytes, battery cells and assembly, a local government notice last year showed. ($1 = 7.2090 Chinese yuan renminbi)
Time of India
18-05-2025
- Automotive
- Time of India
Half of China's heavy truck sales could be EVs by 2028, CATL says
Beijing: Half of China's sales of heavy trucks could be electric vehicles by 2028, up from 10% in 2024, the chairman of battery maker CATL said on Sunday, according to a media report. The comments by Zeng Yuqun, made at a heavy-truck battery-swapping launch and reported by the Shanghai government-affiliated news site Jiemian, suggest further headwinds for fuel demand in the trucking sector, already hit by the rise of LNG trucks in China . CATL announced on Saturday it had put a 60 gigawatt-hour energy storage and EV battery manufacturing base into production in Shandong, its first such facility in northern China. A second and third phase of the project will be added in the next two years, forming an energy industry battery cluster worth billions of yuan in the region, CATL posted on the WeChat social media app. Shandong is aiming to build a 100 billion yuan ($14 billion) lithium battery industry by this year, encompassing electrode materials, electrolytes, battery cells and assembly, a local government notice last year showed.
